- East India Company
East India Company
Company flag after 1801
Former type Public Industry International trade Fate Dissolved Founded 1600 Defunct June 1, 1874 Headquarters London, England Colonial India
British Indian Empire
Colonial India Portuguese India 1510–1961 Dutch India 1605–1825 Danish India 1620–1869 French India 1759–1954 British India 1613–1947 East India Company 1612–1757 Company rule in India 1757–1857 British Raj 1858–1947 British rule in Burma 1824–1942 Princely states 1765–1947/48 Partition of India 1947
The East India Company (also known as the English East India Company, and, after the Treaty of Union, the British East India Company) was an early English joint-stock company that was formed initially for pursuing trade with the East Indies, but that ended up trading mainly with the Indian subcontinent and China. The Company was granted an English Royal Charter, under the name Governor and Company of Merchants of London Trading into the East Indies, by Elizabeth I on 31 December 1600, making it the oldest among several similarly formed European East India Companies, the largest of which was the Dutch East India Company. After a rival English company challenged its monopoly in the late 17th century, the two companies were merged in 1708 to form the United Company of Merchants of England Trading to the East Indies, commonly styled the Honourable East India Company, and abbreviated, HEIC; the Company was colloquially referred to as John Company, and in India as Company Bahadur (Hindustani bahādur, "brave"/"authority").
The East India Company traded mainly in cotton, silk, indigo dye, saltpetre, tea, and opium. The Company also came to rule large areas of India, exercising military power and assuming administrative functions, to the exclusion, gradually, of its commercial pursuits; it effectively functioned as a megacorporation. Company rule in India, which effectively began in 1757 after the Battle of Plassey, lasted until 1858, when, following the events of the Indian Rebellion of 1857, and under the Government of India Act 1858, the British Crown assumed direct administration of India in the new British Raj. The Company itself was finally dissolved on 1 January 1874, as a result of the East India Stock Dividend Redemption Act 1873. The East India Company often issued coinage bearing its stamp in the regions it had control over.
The Company long held a privileged position in relation to the British Government. As a result, it was frequently granted special rights and privileges, including trade monopolies and exemptions. These caused resentment among its competitors, who saw unfair advantage in the Company's position. Despite this resentment, the Company remained a powerful force for over 250 years.
Soon after the defeat of the Spanish Armada in 1588, London merchants presented a petition to Queen Elizabeth I for permission to sail to the Indian Ocean. The permission was granted and in 1591 three ships sailed from England around the Cape of Good Hope to the Arabian Sea. One of them, the Edward Bonaventure, then sailed around Cape Comorin and on to the Malay Peninsula and subsequently returned to England in 1594. In 1596, three more ships sailed east; however, these were all lost at sea. Two years later, on 24 September 1598, another group of merchants, having raised £30,133 in capital, met in London to form a corporation. Although their first attempt was not completely successful, they nonetheless sought the Queen's unofficial approval, purchased ships for their venture, increased their capital to £68,373, and convened again a year later. This time they succeeded, and on 31 December 1600, the Queen granted a Royal Charter to "George, Earl of Cumberland, and 215 Knights, Aldermen, and Burgesses" under the name, Governor and Company of Merchants of London trading with the East Indies. For a period of fifteen years the charter awarded the newly formed company a monopoly on trade with all countries east of the Cape of Good Hope and west of the Straits of Magellan. Sir James Lancaster commanded the first East India Company voyage in 1601.
Initially, the Company struggled in the spice trade due to the competition from the already well established Dutch East India Company. The Company opened a factory (trading post) in Bantam on the first voyage and imports of pepper from Java were an important part of the Company's trade for twenty years. The factory in Bantam was closed in 1683. During this time ships belonging to the company arriving in India docked at Surat, which was established as a trade transit point in 1608. In the next two years, the Company built its first factory in south India in the town of Machilipatnam on the Coromandel Coast of the Bay of Bengal. The high profits reported by the Company after landing in India initially prompted King James I to grant subsidiary licenses to other trading companies in England. But in 1609 he renewed the charter given to the Company for an indefinite period, including a clause which specified that the charter would cease to be in force if the trade turned unprofitable for three consecutive years.
The Company was led by one Governor and 24 directors, who made up the Court of Directors. They, in turn, reported to the Court of Proprietors, which appointed them. Ten committees reported to the Court of Directors.
Foothold in India
English traders frequently engaged in hostilities with their Dutch and Portuguese counterparts in the Indian Ocean. The Company achieved a major victory over the Portuguese in the Battle of Swally in 1612. The Company decided to explore the feasibility of gaining a territorial foothold in mainland India, with official sanction of both countries, and requested that the Crown launch a diplomatic mission. In 1612, Sir Thomas Roe was instructed by James I to visit the Mughal Emperor Nuruddin Salim Jahangir (r. 1605 - 1627) to arrange for a commercial treaty which would give the Company exclusive rights to reside and build factories in Surat and other areas. In return, the Company offered to provide the Emperor with goods and rarities from the European market. This mission was highly successful as Jahangir sent a letter to James through Sir Thomas Roe: Mughal king Jahangir allowed British Company to establish their business in Gujrat. European powers French, British, and Dutch began to fight among themselves for hegemony in India.Upon which assurance of your royal love I have given my general command to all the kingdoms and ports of my dominions to receive all the merchants of the English nation as the subjects of my friend; that in what place soever they choose to live, they may have free liberty without any restraint; and at what port soever they shall arrive, that neither Portugal nor any other shall dare to molest their quiet; and in what city soever they shall have residence, I have commanded all my governors and captains to give them freedom answerable to their own desires; to sell, buy, and to transport into their country at their pleasure.
For confirmation of our love and friendship, I desire your Majesty to command your merchants to bring in their ships of all sorts of rarities and rich goods fit for my palace; and that you be pleased to send me your royal letters by every opportunity, that I may rejoice in your health and prosperous affairs; that our friendship may be interchanged and eternal.
The Company, benefiting from the imperial patronage, soon expanded its commercial trading operations, eclipsing the Portuguese Estado da India, which had established bases in Goa, Chittagong and Bombay (which was later ceded to England as part of the dowry of Catherine de Braganza). The Company created trading posts in Surat (where a factory was built in 1612), Madras (1639), Bombay (1668), and Calcutta (1690). By 1647, the Company had 23 factories, each under the command of a factor or master merchant and governor if so chosen, and had 90 employees in India. The major factories became the walled forts of Fort William in Bengal, Fort St George in Madras, and the Bombay Castle.
In 1634, the Mughal emperor extended his hospitality to the English traders to the region of Bengal, and in 1717 completely waived customs duties for the trade. The company's mainstay businesses were by then in cotton, silk, indigo dye, saltpetre and tea. All the while in 1650-56, it was making inroads into the Dutch monopoly of the spice trade in the Malaccan straits, which the Dutch had acquired by ousting the Portuguese in 1640-41. In 1657, Oliver Cromwell renewed the charter of 1609, and brought about minor changes in the holding of the Company. The status of the Company was further enhanced by the restoration of monarchy in England.
By a series of five acts around 1670, King Charles II provisioned it with the rights to autonomous territorial acquisitions, to mint money, to command fortresses and troops and form alliances, to make war and peace, and to exercise both civil and criminal jurisdiction over the acquired areas.
William Hedges was sent in 1682 to Shaista Khan, the Mughal governor of Bengal in order to obtain a firman, an imperial directive that would grant England regular trading privileges throughout the Mughal empire. However, the company's governor in London, Sir Josiah Child, interfered with Hedges's mission, causing Mughal Emperor Aurangzeb to break off the negotiations. After that Child started war with the Mughals but the "Child's War" (1686–1690) ended in disaster for the English. In 1689 Mughal fleet commanded by Sidi Yakub took Bombay. After a year of resistance, the English surrendered, and in 1690 the company sent envoys to Aurangzeb's camp to plead for a pardon. The company's envoys had to prostrate themselves before the emperor, pay a large indemnity, and promise better behavior in the future. The emperor withdrew his troops and the company subsequently reestablished itself in Bombay and set up a new base in Calcutta.
Mughal convoy piracy incident of 1695
In September 1695, Captain Henry Every, an English pirate on board the Fancy, reached the Straits of Bab-el-Mandeb, where he teamed up with five other pirate captains to make an attack on the Indian fleet making the annual voyage to Mecca. The Mughal convoy included the treasure-laden Ganj-i-Sawai, reported to be the greatest in the Muslim fleet, and its escort, the Fateh Muhammed. They were spotted passing the straits en route to Surat. The pirates gave chase and caught up with the Fateh Muhammed some days later, and meeting little resistance, took some £50,000 to £60,000 worth of treasure.. Every continued in pursuit and managed to overhaul the Ganj-i-Sawai , who put up a fearsome fight but it too was eventually taken. The ship carried enormous wealth and, according to contemporary East India Company sources, was carrying a relative of the Grand Mughal, though there is no evidence to suggest that it was his daughter and her retinue. The loot from the Ganj-i-Sawai totalled between £325,000 and £600,000, including 500,000 gold and silver pieces, and has become known as the richest ship ever taken by pirates.
In a letter sent to the Privy Council by Sir John Gayer, then governor of Bombay and head of the East India Company, Gayer claims that "it is certain the Pyrates...did do very barbarously by the People of the [Gunsway Ganj-i-Sawai] and Abdul Gofors [Abdul Ghaffar's] Ship, to make them confess where their Money was." The pirates set free the survivors who were left aboard their emptied ships, to continue their voyage back to India.
When the news arrived in England it caused an out-cry. In response, a combined bounty of £1,000 (considered massive by the standards of the time) was offered for Every's capture by the Privy Council and East India Company, leading to the first worldwide manhunt in recorded history. The plunder of Aurangzeb's treasure ship had serious consequences for the English East India Company. The furious Mughal emperor closed four of the company's factories in India and imprisoned their officers, blaming them for their countryman's depredations, and threatened to put an end to all English trading in India. To appease Emperor Aurangzeb, Parliament exempted Every from all of the Acts of Grace (pardons) and amnesties it would subsequently issue to other pirates.
Forming a complete monopoly
The prosperity that the officers of the company enjoyed allowed them to return to Britain and establish sprawling estates and businesses, and to obtain political power. The Company developed a lobby in the English parliament. Under pressure from ambitious tradesmen and former associates of the Company (pejoratively termed Interlopers by the Company), who wanted to establish private trading firms in India, a deregulating act was passed in 1694. This allowed any English firm to trade with India, unless specifically prohibited by act of parliament, thereby annulling the charter that had been in force for almost 100 years. By an act that was passed in 1698, a new "parallel" East India Company (officially titled the English Company Trading to the East Indies) was floated under a state-backed indemnity of £2 million. The powerful stockholders of the old company quickly subscribed a sum of £315,000 in the new concern, and dominated the new body. The two companies wrestled with each other for some time, both in England and in India, for a dominant share of the trade. It quickly became evident that, in practice, the original Company faced scarcely any measurable competition. The companies merged in 1708, by a tripartite indenture involving both companies and the state. Under this arrangement, the merged company lent to the Treasury a sum of £3,200,000, in return for exclusive privileges for the next three years, after which the situation was to be reviewed. The amalgamated company became the United Company of Merchants of England Trading to the East Indies.
In the following decades there was a constant see-saw battle between the Company lobby and the Parliament. The Company sought a permanent establishment, while the Parliament would not willingly allow it greater autonomy and so relinquish the opportunity to exploit the Company's profits. In 1712, another act renewed the status of the Company, though the debts were repaid. By 1720, 15% of British imports were from India, almost all passing through the Company, which reasserted the influence of the Company lobby. The license was prolonged until 1766 by yet another act in 1730.
At this time, Britain and France became bitter rivals. Frequent skirmishes between them took place for control of colonial possessions. In 1742, fearing the monetary consequences of a war, the British government agreed to extend the deadline for the licensed exclusive trade by the Company in India until 1783, in return for a further loan of £1 million. Between 1756 and 1763, the Seven Years' War diverted the state's attention towards consolidation and defence of its territorial possessions in Europe and its colonies in North America. The war took place on Indian soil, between the Company troops and the French forces. In 1757, the Law Officers of the Crown delivered the Pratt-Yorke opinion distinguishing overseas territories acquired by right of conquest from those acquired by private treaty. The opinion asserted that, while the Crown of Great Britain enjoyed sovereignty over both, only the property of the former was vested in the Crown.
With the advent of the Industrial Revolution, Britain surged ahead of its European rivals. Demand for Indian commodities was boosted by the need to sustain the troops and the economy during the war, and by the increased availability of raw materials and efficient methods of production. As home to the revolution, Britain experienced higher standards of living. Its spiralling cycle of prosperity, demand, and production had a profound influence on overseas trade. The Company became the single largest player in the British global market. It reserved for itself an unassailable position in the decision-making process of the Government.
William Henry Pyne notes in his book The Microcosm of London (1808) that
- "On the 1 March 1801, the debts of the East India Company to £5,393,989 their effects to £15,404,736 and their sales increased since February 1793, from £4,988,300 to £7,602,041."
Sir John Banks, a businessman from Kent who negotiated an agreement between the King and the Company, began his career in a syndicate arranging contracts for victualling the navy, an interest he kept up for most of his life. He knew Samuel Pepys and John Evelyn and founded a substantial fortune from the Levant and Indian trades. He became a Director and later, as Governor of the East Indian Company in 1672, he arranged a contract which included a loan of £20,000 and £30,000 worth of saltpetre for the King 'at the price it shall sell by the candle' — that is by auction — where an inch of candle burned and as long as it was alight bidding could continue. The agreement included with the price 'an allowance of interest which is to be expressed in tallies.' This was something of a breakthrough in royal prerogative because previous requests for the King to buy at the Company's auctions had been turned down as 'not honourable or decent.' Outstanding debts were also agreed and the Company permitted to export 250 tons of saltpetre. Again in 1673, Banks successfully negotiated another contract for 700 tons of saltpetre at £37,000 between the King and the Company. So urgent was the need to supply the armed forces in the United Kingdom, America, and elsewhere that the authorities sometimes turned a blind eye on the untaxed sales. One governor of the Company was even reported as saying in 1864 that he would rather have the saltpetre made than the tax on salt.
Basis for the monopoly
The Seven Years' War (1756–1763) resulted in the defeat of the French forces, limited French imperial ambitions, and stunting the influence of the industrial revolution in French territories. Robert Clive, the Governor General, led the Company to a victory against Joseph François Dupleix, the commander of the French forces in India, and recaptured Fort St George from the French. The Company took this respite to seize Manila in 1762. By the Treaty of Paris (1763), the French were allowed to maintain their trade posts only in small enclaves in Pondicherry, Mahe, Karikal, Yanam, and Chandernagar without any military presence. Although these small outposts remained French possessions for the next two hundred years, French ambitions on Indian territories were effectively laid to rest, thus eliminating a major source of economic competition for the Company. In contrast, the Company, fresh from a colossal victory, and with the backing of a disciplined and experienced army, was able to assert its interests in the Carnatic region from its base at Madras and in Bengal from Calcutta, without facing any further obstacles from other colonial powers.
The Company continued to experience resistance from local rulers during its expansion. Robert Clive led company forces against Siraj Ud Daulah, the last independent Nawab of Bengal, Bihar, and Midnapore district in Orissa to victory at the Battle of Plassey in 1757, resulting in the conquest of Bengal. This victory estranged the British and the Mughals, since Siraj Ud Daulah was a Mughal feudatory ally. But the Mughal empire was already on the wane after the demise of Aurangzeb, and was breaking up into pieces and enclaves. After the Battle of Buxar, Shah Alam II, the ruling emperor, gave up the administrative rights over Bengal, Bihar, and Midnapore District. Clive became the first British Governor of Bengal.
Hyder Ali and Tipu Sultan, the rulers of the Sultanate of Mysore, offered much resistance to the British forces. Having sided with the French during the war, the rulers of Mysore continued their struggle against the Company with the four Anglo-Mysore Wars. Mysore finally fell to the Company forces in 1799, with the death of Tipu Sultan.
With the gradual weakening of the Maratha empire in the aftermath of the three Anglo-Maratha wars, the British also secured Bombay (Mumbai) and the surrounding areas. It was during these campaigns, both against Mysore and the Marathas, that Arthur Wellesley, later Duke of Wellington, first showed the abilities which would lead to victory in the Peninsular War and at the Battle of Waterloo. A particularly notable engagement involving forces under his command was the Battle of Assaye (1803). Thus, the British had secured the entire region of Southern India (with the exception of small enclaves of French and local rulers), Western India and Eastern India.
The last vestiges of local administration were restricted to the northern regions of Delhi, Oudh, Rajputana, and Punjab, where the Company's presence was ever increasing amidst infighting and offers of protection among the remaining princes. Coercive action, threats, and diplomacy aided the Company in preventing the local rulers from putting up a united struggle. The hundred years from the Battle of Plassey in 1757 to the Indian Rebellion of 1857 were a period of consolidation for the Company, which began to function more as a nation and less as a trading concern.
A cholera pandemic began in Bengal, then spread across India by 1820. 10,000 British troops and countless Indians died during this pandemic. Between 1736 and 1834 only some 10% of East India Company's officers survived to take the final voyage home.
In the 18th century, Britain had a huge trade deficit with Qing Dynasty China and so in 1773, the Company created a British monopoly on opium buying in Bengal. As the opium trade was illegal in China, Company ships could not carry opium to China. So the opium produced in Bengal was sold in Calcutta on condition that it be sent to China.
Despite the Chinese ban on opium imports, reaffirmed in 1799 by the Jiaqing Emperor, the drug was smuggled into China from Bengal by traffickers and agency houses such as Jardine, Matheson & Co and Dent & Co. in amounts averaging 900 tons a year. The proceeds of the drug-smugglers landing their cargoes at Lintin Island were paid into the Company's factory at Canton and by 1825, most of the money needed to buy tea in China was raised by the illegal opium trade. In 1838, with the amount of smuggled opium entering China approaching 1,400 tons a year, the Chinese imposed a death penalty for opium smuggling and sent a Special Imperial Commissioner, Lin Zexu, to curb smuggling. This resulted in the First Opium War (1839–1842). After the war Hong Kong island was ceded to Britain under the Treaty of Nanking and the Chinese market opened to the opium traders of Britain and other nations. A Second Opium War fought by Britain and France against China lasted from 1856 until 1860 and led to the Treaty of Tientsin.
Regulation of the company's affairs
Though the Company was becoming increasingly bold and ambitious in putting down resisting states, it was getting clearer that the Company was incapable of governing the vast expanse of the captured territories. The Bengal famine of 1770, in which one-third of the local population died, caused distress in Britain. Military and administrative costs mounted beyond control in British-administered regions in Bengal due to the ensuing drop in labour productivity. At the same time, there was commercial stagnation and trade depression throughout Europe. The directors of the company attempted to avert bankruptcy by appealing to Parliament for financial help. This led to the passing of the Tea Act in 1773, which gave the Company greater autonomy in running its trade in America, and allowed it an exemption from tea import duties which its colonial competitors were required to pay. When the American colonists, who included tea merchants, were told of the act, they tried to boycott it, claiming that although the price had gone down on the tea when enforcing the act, it also would help validate the Townshend Acts and set a precedent for the king to impose additional taxes in the future. The arrival of tax-exempt Company tea, undercutting the local merchants, triggered the Boston Tea Party in the Province of Massachusetts Bay, one of the major events leading up to the American Revolution.
Regulating Acts of Parliament
East India Company Act 1773
By the Regulating Act of 1773 (later known as the East India Company Act 1772), the Parliament of Great Britain imposed a series of administrative and economic reforms and by doing so clearly established its sovereignty and ultimate control over the Company. The Act recognised the Company's political functions and clearly established that the "acquisition of sovereignty by the subjects of the Crown is on behalf of the Crown and not in its own right."
Despite stiff resistance from the East India lobby in parliament and from the Company's shareholders the Act was passed. It introduced substantial governmental control and allowed the land to be formally under the control of the Crown, but leased to the Company at £40,000 for two years. Under this provision governor of Bengal Warren Hastings became the first Governor-General of Bengal, and had administrative powers over all of British India. It provided that his nomination, though made by a court of directors, should in future be subject to the approval of a Council of Four appointed by the Crown - namely Lt. General Sir John Clavering, The Honourable Sir George Monson, Sir Richard Barwell, and Sir Philip Francis. Hastings was entrusted with the power of peace and war. British judicial personnel would also be sent to India to administer the British legal system. The Governor General and the council would have complete legislative powers. The company was allowed to maintain its virtual monopoly over trade in exchange for the biennial sum and was obligated to export a minimum quantity of goods yearly to Britain. The costs of administration were to be met by the company. These provisions were initially welcomed by the Company, but with the annual burden of the payment to be met, its finances continued steadily to decline.
East India Company Act 1784 (Pitt's India Act)
The East India Company Act 1784 (Pitt's India Act) had two key aspects:
- Relationship to the British government: the bill differentiated the East India Company's political functions from its commercial activities. In political matters the East India Company was subordinated to the British government directly. To accomplish this, the Act created a Board of Commissioners for the Affairs of India, usually referred to as the Board of Control. The members of the Board were the Chancellor of the Exchequer, the Secretary of State, and four Privy Councillors, nominated by the King. The act specified that the Secretary of State "shall preside at, and be President of the said Board".
- Internal Administration of British India: the bill laid the foundation for the centralised and bureaucratic British administration of India which would reach its peak at the beginning of the 20th century during the governor-generalship of George Nathaniel Curzon, 1st Baron Curzon.
Pitt's Act was deemed a failure because it quickly became apparent that the boundaries between government control and the company's powers were nebulous and highly subjective. The government felt obliged to respond to humanitarian calls for better treatment of local peoples in British-occupied territories. Edmund Burke, a former East India Company shareholder and diplomat, was moved to address the situation and introduced a new Regulating Bill in 1783. The bill was defeated amid lobbying by company loyalists and accusations of nepotism in the bill's recommendations for the appointment of councillors.
Act of 1786
The Act of 1786 (26 Geo. 3 c. 16) enacted the demand of Earl Cornwallis that the powers of the Governor-General be enlarged to empower him, in special cases, to override the majority of his Council and act on his own special responsibility. The Act enabled the offices of the Governor-General and the Commander-in-Chief to be jointly held by the same official.
This Act clearly demarcated borders between the Crown and the Company. After this point, the Company functioned as a regularised subsidiary of the Crown, with greater accountability for its actions and reached a stable stage of expansion and consolidation. Having temporarily achieved a state of truce with the Crown, the Company continued to expand its influence to nearby territories through threats and coercive actions. By the middle of the 19th century, the Company's rule extended across most of India, Burma, Malaya, Singapore, and British Hong Kong, and a fifth of the world's population was under its trading influence.
East India Company Act 1793 (Charter Act)
The Company's charter was renewed for a further 20 years by the Charter Act of 1793. In contrast with the legislative proposals of the past two decades, the 1793 Act was not a particularly controversial measure, and made only minimal changes to the system of government in India and to British oversight of the Company's activities.
East India Company Act 1813 (Charter Act)
The aggressive policies of Lord Wellesley and the Marquis of Hastings led to the Company gaining control of all India, except for the Punjab, Sindh, and Nepal. The Indian Princes had become vassals of the Company. But the expense of wars leading to the total control of India strained the Company's finances. The Company was forced to petition Parliament for assistance. This was the background to the Charter Act of 1813 which, among other things:
- asserted the sovereignty of the British Crown over the Indian territories held by the Company;
- renewed the charter of the company for a further twenty years, but
- deprived the company of its Indian trade monopoly except for trade in tea and the trade with China
- required the company to maintain separate and distinct its commercial and territorial accounts
- opened India to missionaries
Government of India Act 1833
- removed the Company's remaining trade monopolies and divested it of all its commercial functions
- renewed for another twenty years the Company's political and administrative authority
- invested the Board of Control with full power and authority over the Company. As stated by Professor Sri Ram Sharma, "The President of the Board of Control now became Minister for Indian Affairs."
- carried further the ongoing process of administrative centralisation through investing the Governor-General in Council with, full power and authority to superintend and, control the Presidency Governments in all civil and military matters
- initiated a machinery for the codification of laws
- provided that no Indian subject of the Company would be debarred from holding any office under the Company by reason of his religion, place of birth, descent or colour
- vested the Island of St Helena in the Crown
British influence continued to expand; in 1845, the Danish colony of Tranquebar was sold to Great Britain. The Company had at various stages extended its influence to China, the Philippines, and Java. It had solved its critical lack of cash needed to buy tea by exporting Indian-grown opium to China. China's efforts to end the trade led to the First Opium War (1839–1842).
Government of India Act 1853
This Act (16 & 17 Vict. c. 95) provided that British India would remain under the administration of the Company in trust for the Crown until Parliament should decide otherwise.
Indian Mutiny of 1857–58 (Sepoy Mutiny)
The Indian Mutiny of 1857 resulted in widespread devastation in India and condemnation of the East India Company for permitting the events to occur. One of the consequences of the Indian Mutiny was that the British Government nationalised the Company. The Company lost all its administrative powers; its Indian possessions, including its armed forces, were taken over by the Crown pursuant to the provisions of the Government of India Act 1858.
The Company continued to manage the tea trade on behalf of the British Government (and the supply of Saint Helena) until the East India Stock Dividend Redemption Act 1873 came into effect, on 1 January 1874. The Act provided for the dissolution of the company on 1 June 1874, after a final dividend payment and the commutation or redemption of its stock. The Times reported, "It accomplished a work such as in the whole history of the human race no other company ever attempted and as such is ever likely to attempt in the years to come."
The East India Company has had a long lasting impact on the Indian Subcontinent. Although dissolved following the rebellion of 1857, it stimulated the growth of the British Empire. Its armies after 1857 were to become the armies of British India and it played a key role in introducing English as an official language in India.
East India Club
The East India Club in London was formed in 1849 for officers of the East India Company. The Club still exists today as a private Gentlemen's Club with its club house situated at 16, St. James's Square, London.
National Geographic (1917)
The flag had a Union Flag in the canton after the creation of the Kingdom of Great Britain in 1707
The East India Company flag changed over time. From the period of 1600 to the 1707 Acts of Union between England and Scotland the flag consisted of a St George's cross in the canton and a number of alternating Red and White stripes. After 1707 the canton contained the original Union Flag consisting of a combined St George's cross and a St Andrew's cross. After the Acts of Union 1800 that joined Ireland with Great Britain to form the United Kingdom, the canton of the East India Company's flag was altered accordingly to include the new Union Flag with the additional Saint Patrick's Flag. There has been much debate and discussion regarding the number of stripes on the flag and the order of the stripes. Historical documents and paintings show many variations from 9 to 13 stripes, with some images showing the top stripe being red and others showing the top stripe being white.
At the time of the American Revolution the East India Company flag was identical to the Grand Union Flag. The flag probably inspired the Stars and Stripes (as argued by Sir Charles Fawcett in 1937).
It is argued that the stripes were inspired by local Malay flags, which were inspired by the Indonesian Majapahit Empire's flag (as is arguably the Indonesian flag today). Both the Majapahit and early EIC flags had 9 stripes of red and white.
- Red Dragon (1595)
- Earl of Abergavenny (1797)
- Royal Captain (before 1773)
- Earl of Mornington (1799); packet ship
- Lord Nelson (1799)
- French Revolutionary and Napoleonic Wars, the East India Company arranged for letters of marque for its vessels such as the Lord Nelson, not so that they could carry cannons to fend off warships, privateers and pirates on their voyages to India and China, that they could do without permission, but so that should they have the opportunity to take a prize they could do so without being guilty of piracy. Similarly, the Earl of Mornington, an East India Company packet ship of only six guns too sailed under a letter of marque.
At the Battle of Pulo Aura, which was probably the company's most notable naval victory, Nathaniel Dance, Commodore of a convoy of Indiamen and sailing aboard the Warley, led several Indiamen in a skirmish with a French squadron, driving them off.
Lastly, the Royal Navy bought several Company ships to convert to warships and transports. The Earl of Mornington became HMS Drake. Other examples Include:
- HMS Calcutta (1795)
- HMS Glatton (1795)
- HMS Hindostan (1795)
- HMS Hindostan (1804)
- HMS Malabar (1804)
- HMS Buffalo (1813)
Unlike all other British Government records, the records from the East India Company (and its successor the India Office) are not in The National Archives at Kew, London, but are stored by the British Library in London as part of the Asia, Pacific, and Africa Collection. The catalogue is searchable online in the Access to Archives catalogues. Many of the East India Company records are freely available online under an agreement that the Families of the British India Society (FIBIS) have with the British Library.
- History of India
- Historiography of the British Empire
- UK company law
- History of South Asia
- British Raj (also Crown rule in India, British Indian Empire)
- New Imperialism series
- Chartered companies
- List of BEIC directors
- East India Docks, London
- Blackwall Yard, London
- Governor-General of India
- Commander-in-Chief, India
- Presidency armies
- East India Companies
- Assada Company, English, founded 1635 and ceased 1657
- Dutch East India Company, founded 1602 and ceased 1798
- Danish East India Company, founded in 1616 and ceased 1846
- French East India Company, founded 1664 and ceased 1769
- Portuguese East India Company, founded 1628 and ceased 1633
- Swedish East India Company, founded 1731 and ceased 1813
- Addiscombe Military Academy 1809-1861
- East India Company College 1805–1858
- Robert Brooke 1744-1811
- East India Company Cemetery in Macau
- Spice wars
- Carnatic Wars
- Indian Mutiny
- British Imperial Lifeline
- Commercial Revolution
- ^ Encyclopaedia Britannica 2008, "East India Company"
- ^ 1. Columbia Encyclopedia 2007, "East India Company, British". 2. Marx, Karl (25 June 1853), "The British rule in India", New York Daily Tribune republished in Carter, Mia; Harlow (editors), Barbara (2003), Archives of Empire, Raleigh: Duke University Press. Pp. 802, ISBN 0822331640, http://books.google.com/books?id=13pyxO8o4moC&printsec=frontcover&source=gbs_summary_r&cad=0#PPA117,M1 . Quote (p. 118): "I do not allude to European despotism, planted upon Asiatic despotism, by the British East India Company, forming a more monstrous combination than any of the divine monsters startling us in the temple of Salsette."
- ^ The Dutch East India Company was the first to issue public stock.
- ^ The Register of Letters &c. of the Governor and Company of Merchants of London trading into the East Indies, 1600–1619. On page 3, a letter written by Elizabeth I on 23 January 1601 ("Witnes or selfe at Westminster the xxiiijth of Ianuarie in the xliijth yeare of or Reigne.") states, "Haue been pleased to giue lysence vnto or said Subjects to proceed in the said voiadgs, & for the better inabling them to establish a trade into & from the said East Indies Haue by or tres Pattents vnder or great seale of England beareing date at Westminster the last daie of december last past incorporated or said Subjecte by the name of the Gournor & Companie of the merchaunts of London trading into the East Indies, & in the same tres Pattents haue geven them the sole trade of theast Indies for the terme of XVteen yeares ..."
- ^ A. Oxford English Dictionary (Draft Edition, September 2008, requires subscription) entry for "honourable": "2b. Applied as an official or courtesy title of honour or distinction." Usage: ... the prefix ‘Honourable’ ... is also applied to the House of Commons collectively; ... also formerly to the East India Company, etc. Examples: 1698 FRYER Acc. E. India & P. 38 "In pay for the Honourable East India Company." B. Encyclopaedia Britannica 1911, "HONOURABLE (Fr. honorable, from Lat. honorabilis, worthy of honour), a style or title of honour common to the United Kingdom, the British colonies and the United States of America.... The epithet is also applied to the House of Commons as a body and to individual members during debate ("the honourable member for X"). Certain other corporate bodies have, by tradition or grant, the right to bear the style; e.g. the Honourable Irish Society, the Inns of Court (Honourable Society of the Inner Temple, &c.) and the Honourable Artillery Company; the East India Company also had the prefix "honourable" . The style may not be assumed by corporate bodies at will, as was proved in the case of the Society of Baronets, whose original style of "Honourable" Society was dropped by command." C. Birdwood, George (1891), Report on the Old Records of the India Office, London: W. H. Allen & Co., Limited, and at Calcutta, http://books.google.com/books?id=m-WBAAAAIAAJ&pg=PA14&dq=Charter+of+1709+%22Honourable+East+India+Company%22&lr=&num=100&as_brr=1 Quote (p. 14): "The English Company [Including The General Society chartered by William III, 3 September 1698] trading with the East , commonly called "the New Company," was incorporated by William III, 5 September 1698; its charter running to 1714. The above Company of Merchants of London and the English Company, were finally incorporated under the name of "The United Company of Merchants of England trading to the East [commonly styled, "the Honourable East India Company"] in 1708-9."
- ^ Hawes, Christopher J. (1996), Poor Relations: The Making of a Eurasian Community in British India, 1773-1833, London: Routledge. Pp. 217., ISBN 0700704256, http://books.google.com/books?id=d22WUEmG49IC&pg=PR13&vq=HEIC&lr=&source=gbs_search_r&cad=1_1 Quote (p. xiii): "Abbreviations: Honourable East India Company (HEIC)."
- ^ Ride, Lindsay; Ride, May; Mellor, Bernard (1995), An East India Company Cemetery: Protestant Burials in Macao, Hong Kong: Hong Kong University Press. Pp. 304, ISBN 9622093841, http://books.google.com/books?id=flbXWNoVraEC&pg=PA7& Quote (p. 7): "In 1709, the Company amalgamated with a rival group, which had been chartered in 1698 by William III. This union took the title 'The Honourable East India Company,' which was shortened for general use to 'the Honourable Company' and more often still to John Company, until it ceased operations in 1834, after its monopoly of British trade with China was discontinued."
- ^ Gandhi, M. K. (1997), Hind Swaraj and other writings, (Edited by Anthony J. Parel) Cambridge and London: Cambridge University Press. Pp. 208., ISBN 0521574315, http://books.google.com/books?id=oc47gUOPZfcC&pg=PA39&dq=%22Company+Bahadur%22#PPA39,M1 . Quote (p.39): "... They came to our country originally for the purpose of trade. Recall the Company Bahadur.† Who made it Bahadur? They had not the slightest intention at the time of establishing a kingdom. Who assisted the Company's officers? Who was tempted by their silver? Who bought their goods? History testifies that we did all this. ... †: 'the Company Bahadur': an honorific title by which the East India Company was known among Indians. 'Bahadur' means brave, powerful, sovereign."
- ^ a b c d Imperial Gazetteer of India vol. II 1908, p. 454[Full citation needed]
- ^ a b Imperial Gazetteer of India vol. II 1908, p. 6
- ^ Gardner, Brian (1972). The East India Company: a History. McCall Publishing Company. ISBN 0841501246.
- ^ Indian History Sourcebook: England, India, and The East Indies, 1617 A.D
- ^ "East India Company" (1911). Encyclopædia Britannica Eleventh Edition, Volume 8, p.835
- ^ Europe, 1450 to 1789: Encyclopedia of the Early Modern World
- ^ Burgess, Douglas R. (2009). The Pirates' Pact: The Secret Alliances Between History's Most Notorious Buccaneers and Colonial America. New York, NY: McGraw-Hill. ISBN 9780071474764
- ^ Fox, E. T. (2008). King of the Pirates: The Swashbuckling Life of Henry Every. London: Tempus Publishing. ISBN 9780752447186.
- ^ The British East India Company—the Company that Owned a Nation. George P. Landow
- ^ Thomas, P. D. G. (2008) "Pratt, Charles, first Earl Camden (1714–1794)", Oxford Dictionary of National Biography, Oxford University Press, online edn, accessed 15 February 2008 Subscription or UK public library membership required
- ^ SALTPETER the secret salt - Salt made the world go round
- ^ Company incursion, Manila 1762-1763. See the Bib. for the citation of Sirs Draper and Cornish; see also Cushner's citation.
- ^ Cholera's seven pandemics. CBC News. 2 December 2008
- ^ Holmes, Richard (2005). Sahib: the British soldier in India, 1750-1914. London: HarperCollins. ISBN 0-00-713753-2.
- ^ EAST INDIA COMPANY FACTORY RECORDS Sources from the British Library, LondonPart 1: China and Japan
- ^ Anthony, Frank. Britain's Betrayal in India: The Story of the Anglo Indian Community. Second Edition. London: The Simon Wallenberg Press, 2007 Pages 18- 19, 42, 45.
- ^ Kapur
- ^ East India Stock Dividend Redemption Act 1873 (36 & 37 Vict. 17) s. 36: "On the First day of June One thousand eight hundred and seventy-four, and on payment by the East India Company of all unclaimed dividends on East India Stock to such accounts as are herein-before mentioned in pursuance of the directions herein-before contained, the powers of the East India Company shall cease, and the said Company shall be dissolved." Where possible, the stock was redeemed through commutation (i.e. exchanging the stock for other securities or money) on terms agreed with the stockholders (ss. 5-8), but stockholders who did not agree to commute their holdings had their stock compulsorily redeemed on 30 April 1874 by payment of £200 for every £100 of stock held (s. 13).
- ^ The Striped Flag Of The East India Company, And Its Connexion With The American "Stars And Stripes"
- ^ Sutton, Jean (1981) Lords of the East: The East India Company and Its Ships. London: Conway Maritime
- ^ A2A - Access to Archives Home
- Andrews, Kenneth R. (1985). Trade, Plunder, and Settlement: Maritime Enterprise and the Genesis of the British Empire, 1480–1630. Cambridge, U.K.: Cambridge University Press. ISBN 0521257603.
- Bowen, H. V. (1991). Revenue and Reform: The Indian Problem in British Politics, 1757–1773. Cambridge, U.K.: Cambridge University Press. ISBN 0521403162.
- Bowen, H. V.; Margarette Lincoln, and Nigel Rigby, eds. (2003). The Worlds of the East India Company. Rochester, NY: Brewer. ISBN 0851158773.
- Brenner, Robert (1993). Merchants and Revolution: Commercial Change, Political Conflict, and London’s Overseas Traders, 1550–1653. Princeton, NJ: Princeton University Press. ISBN 0691055947.
- Carruthers, Bruce G. (1996). City of Capital: Politics and Markets in the English Financial Revolution. Princeton, NJ: Princeton University Press. ISBN 978-0-691-04455-2.
- Chaudhuri, K. N. (1965). The English East India Company: The Study of an Early Joint-Stock Company, 1600–1640. London: Cass.
- Chaudhuri, K. N. (1978). The Trading World of Asia and the English East India Company, 1660–1760. Cambridge, U.K.: Cambridge University Press. ISBN 0521217164.
- Farrington, Anthony (2002). Trading Places: The East India Company and Asia, 1600–1834. London: British Library. ISBN 0712347569.
- Furber, Holden (1976). Rival Empires of Trade in the Orient, 1600–1800. Minneapolis: University of Minnesota Press. ISBN 0816607877.
- Harrington, Jack (2010), Sir John Malcolm and the Creation of British India, New York: Palgrave Macmillan., ISBN 978-0-230-10885-1
- Keay, John (2010). The Honourable Company: A History of the English East India Company. HarperCollins UK. ISBN 978-0-00-739554-5. http://books.google.com/books?id=XpdgQt6Tc54C. Retrieved 24 September 2011.
- Lawson, Philip (1993). The East India Company: A History. London: Longman. ISBN 0582073863.
- Risley (ed.), Sir Herbert H. et al. (1908), The Indian Empire: Historical, Imperial Gazetteer of India, 2, Oxford: Clarendon Press, under the authority of H.M. Secretary of State for India
- Risley (ed.), Sir Herbert H. et al. (1908), The Indian Empire: Administrative, Imperial Gazetteer of India, 4, Oxford: Clarendon Press, under the authority of H.M Secretary of State for India
- Robins, Nick (2006). The Corporation that Changed the World: How the East India Company Shaped the Modern Multinational. London: Pluto Press. ISBN 0745325246.
- Sen, Sudipta (1998). Empire of Free Trade: The East India Company and the Making of the Colonial Marketplace. Philadelphia: University of Pennsylvania Press. ISBN 978-0812234268.
- Steensgaard, Niels (1975). The Asian Trade Revolution of the Seventeenth Century: The East India Companies and the Decline of the Caravan Trade. Chicago: University of Chicago Press. ISBN 0226771385.
- Sutherland, Lucy S. (1952). The East India Company in Eighteenth-Century Politics. Oxford: Clarendon Press.
- Dirks, Nicholas (2006). The Scandal of Empire: India and the creation of Imperial Britain. Cambridge, Massachusetts, London, England: The Belknap Press of Harvard University Press. ISBN 0674021665.
- East India Company on In Our Time at the BBC. (listen now)
- The Twilight of the East India Company: The Evolution of Anglo-Asian Commerce and Politics, 1790-1860: Boydell & Brewer, Woodbridge, 2009
- From Trade to Colonization: Historical Dynamics of the East India Companies
- Seals and Insignias of East India Company
- The Secret Trade The basis of the monopoly.
- Trading Places - a learning resource from the British Library
- Trading Places: The East India Company and Asia, a free seminar from the British Library on the history of the British East India Company.
- Port Cities: History of the East India Company
- Ships of the East India Company
- Plant Cultures: East India Company in India
- Library of Congress Federal Research Division Country Studies
- The British East India Company
- History and Politics: East India Company
- English Expansionism
- Nick Robins, New Statesman, 13 December 2004, "The world's first multinational"
- Karl Marx, New York Tribune, 1853–1858, The Revolt in India
- East India Company: Its History and Results article by Karl Marx, MECW Volume 12, p. 148
- East India Club Gentlemen's club originally for officers and former officers of the Company, now open to others.
- Text of East India Company Act 1773
- Text of East India Company Act 1784
- John Stuart Mill and The East India Company, Vinay Lal's review of Lynn Zastoupil's 1994 book
- The Richest East India Merchant: The Life and Business of John Palmer of Calcutta, 1767-1836 (Worlds of the East India Company) by Anthony Webster
- "The East India Company – a corporate route to Europe" on BBC Radio 4’s In Our Time featuring Huw Bowen, Linda Colley and Maria Misra
- A timeline of India in the 1800s
- HistoryMole Timeline: The British East India Company
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